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April 16 (Reuters) – A section of TC Energy’s gas pipeline system in Alberta ruptured and caught fire on Tuesday, sparking a wildfire in a remote area, the company said.

“An initial ignition of natural gas at the rupture site is now extinguished. We are working to support Alberta Wildfire in their response to contain a secondary fire,” the company said in a statement on its website.

TC said there were no injuries and it was working closely with first responders in the region.

The fire broke out about 40 km (25 miles) northwest of Edson, Alberta, in Yellowhead County. Canadian broadcaster Global News said there was a plume of flames and smoke visible from many kilometres away.

The Canada Energy Regulator (CER) said initial investigations indicated a rupture in a gas pipeline caused the fire, which was under control.

TC Energy said it has isolated and shut down the affected section of the NGTL system, and the remainder of the system is operating normally with no commercial impact.

The CER said it is sending inspectors to the area to monitor and oversee the company’s response and determine the impact of the incident.

NGTL is TC Energy’s natural gas gathering and transportation system that transports gas produced in Western Canadian Sedimentary Basin (WCSB) to markets in Canada and United States.

(Reporting by Anjana Anil, Anushree Mukherjee, Sherin Elizabeth Varghese and Harshit Verma in Bengaluru and Nia Williams in British Columbia; Editing by Michael Perry and Stephen Coates)

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Many of this country’s largest conventional oil and gas drillers operate in regions which last year were affected by severe hot, dry weather conditions.

As early as the start of last May, oil and gas companies in northwest and central Alberta as well as northeast B.C. found themselves temporarily halting production as wildfires raged across key fossil fuel-producing regions.

Most of the curtailments were done on a precautionary basis and no significant damage to energy-producing infrastructure occurred.

Now, as this year’s snow melts and spring-like conditions return to Western Canada, oil and gas producers are prepared for what could be another fiery year. In late February, Alberta’s government declared an early start to wildfire season, warning of unusually dry conditions and low snow cover.

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The investment bank sees global road oil demand edging down along a long plateau after the peak and remaining four per cent above 2023 levels by 2040, as a rise in the global number of vehicles nearly offsets the decline in oil consumption per vehicle. It expects large differences in the peak’s timing in different countries, it said in a note published on Monday.

Goldman said the 1.7 billion global vehicles drove 47 per cent of 2023 oil demand, with gasoline consumption driving about half of road demand. It highlighted that new electric vehicles (NEVs), which it defines as battery vehicles and plug-in hybrids but not traditional hybrids, are now weighing on oil demand.

The bank expects the rise of NEVs and internal combustion engine efficiency gains to reduce oil use per vehicle by 65 per cent to 285 gallons per vehicle a year by 2040.

Goldman expects the global number of vehicles, including NEVs, to grow by 60 per cent by 2040.

Road oil demand in emerging markets excluding China is seen growing through 2040, which roughly offsets ongoing declines in OECD nations and soon in China, where demand is expected to peak in 2025, Goldman said.

Goldman said the timing of the road oil peak could range from 2025 to after 2040 under alternative paths for economic growth and NEVs. Petrochemical and jet products have firmer growth prospects, the bank added.

Goldman’s base case of a long road oil plateau sits between the lower International Energy Agency forecast and higher U.S. Energy Information Administration and Organization of the Petroleum Exporting Countries forecasts.

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